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Open Thread
As Zero Hedge will be unable to post news updates over the next several hours, feel free to use this open thread as a forum for any important developments and observations.
We leave you for the time being with this fascinating special report on emerging markets from The Boeckh Investment Letter: Emerging Market Uprising: What it Means for Investors
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Please do not respond to RNR. He is the Andy Kaufman of ZH. He comments just to rile people and then watch the results. He is a performance artist. Defeat him by not responding.
http://en.wikipedia.org/wiki/Andy_Kaufman
http://www.youtube.com/watch?v=FMEe7JqBgvg
Bob, left you wrong link on the other thread, sheeesh. Here it is, gets better after a couple of minutes.
http://www.youtube.com/watch?v=FqrZeC2ee0k
Yeah, but you see that it's all good.
Late night writing a paper for class.
... that's what I should be doing.
Instead wrote something else:
http://thevictoryreport.org/2010/10/28/michael-victory-the-futurist/
~MV
Rusty check this out.
http://www.spaceweather.com/swpod2010/28oct10/twister768.gif?PHPSESSID=i...
http://www.godlikeproductions.com/forum1/message1235352/pg1
Apparently turd didn't get your memo in time.
Whaddayahknow, HFT shit hitting the fan on ZH: 23,000+ quotes per second per thread. That's "Quote stuffing" for ya.
LMAO
Next on the agenda, High Frequency Voting?
You bet Nanny,
Whatever gives the most bacon to the oligarchs will be next on the agenda.
The proof is not in the pudding, it's all about maxing out on bacon for TPTB.
LMAO
RedNeck: This country is in deep shit and its primarily due to this bullshit partisanship, created and promoted by our political class, to inflame differences and keep us pre-occupied. That you participate in the mindless name-calling makes you part of the problem, not the solution.
That is an extremely ironic and audacious comment coming from someone who "will defend Glenn Beck every time." Don't try to wave the anti-partisanship flag when you are defending the single most alienating and divisive media p/muppet on that wood-boxed Zenith next to your gun rack.
That aside, I agree with you on your first sentence. I'm not promoting; I'm mocking, and I happen to find the right-wing a deeper and richer source for hypocrisy and bullshit. Plus, I find the retrograde amnesia that afflicts the right-wingers on this site utterly entertaining.
Lastly, I'm not a democrat - never have been, never will be. I was a Republican until the hypocrisy of the party became too thick to ignore. That was a gradual process that accelerated under the Bush abomination.
I will defend Glenn Back every chance I get, RedNeck.
You should take out your ear plugs and truly listen for a week rather than just copy and paste your brain directly from MediaMatters and the HuffPost. I think you'd find that you have more in common with him than you think.
Regarding hypocrisy and bullshit, the level is all in the eye of the beholder, I guess.
Now, here's an idea!! See below:
http://www.rasmussenreports.com/public_content/politics/general_politics...
You will feel better once you have graduated from GB. Unfortunately, you will not be able to get back the time you wasted watching that obfuscator.
He gives people just enough to keep them away from the real issues and actions that would/could promote real change in the people. By staying withing our conditioned parameters he controls the degree of how much he "wakes people up".. he's a clown..
I can't understand why anyone still associates with Mr. Beck when night after night Jon Stewart destroys not only the content of Glenn's arguments but also (in hilarious fashion) his delivery of them:
http://www.google.com/#hl=en&expIds=17259,23756,24692,24878,24879,25639,26637,26664,27060,27182,27284,27294&sugexp=ldymls&xhr=t&q=jon+stewart+glenn+beck&cp=13&um=1&ie=UTF-8&tbo=u&tbs=vid:1&source=og&sa=N&tab=wv&fp=782711885fffb0c2
Not to defend Glenn Beck, but John Stewart is just as much a shill as he is.
Glenn appeals to the bible thumpers, John appeals to the pseudo intellectuals.
The Overton Window is a great thriller.
Agreed... pseudo being the key word in your statement..
Max,
You win this thread and get a complimentary nail gun for playing.
(As a psyops, it's kinda cool. Beck is just the alpha-clown spreading his disinfo as seeds to sprout up in the closest uninformed mushroom patch as tea party pod stooges too caring to be concerned and thinking that the last 5% of truth he is providing is the poison that will kill the liberty and passion that inspired them in the first place.)
Caveat-fucking-emptor people
The jesters are the only others allowed in the court. 'Nuff said.
Brightly burn, reality is to see.
Left, Right
Who divides has the might.
To lead those without sight,
To the drowning sea.
Just some new song lyrics inspired by this discussion...:)
+ well said
If anyone cares, you can watch full episodes commercial-free of Glenn Beck at The Daily Beck
http://www.watchglennbeck.com/
Bahahahaha, you're fucking kidding, right?
Or, I could get that root canal I've been putting off...
My root canal is covered by insurance, so, I guess I'll take the root canal for $218.00 Alex.
dude...
Nice smackdown, eh... Turd.
Those who are taught what to think instead of how to think will never learn. They gallop onto the "battlefield of ideas" stark naked with their straw swords and their "kick me!" tattoos gleaming in the sunlight, hoping that this time the the guy with the bigh hat and the big guns won't send him squealing off to the finished part of Mommie's house searching for Pizza Rolls. What's the definition of insanity, again?
GB deserves all the loyalty he gets. Long live the spirit of 8.28, brother.
What's the definition of insanity, again?
Here's your answer:
GB deserves all the loyalty he gets. Long live the spirit of 8.28, brother
BARF!
Agree tmos...
@ tmosley
...They are saying the right things now...
lol. That is fucking stupid. They've always said the right things - the problem is that they do the opposite. How can you possibly be so deluded as to think this time is any different?
By the way, your avatar looks like a really dirty Motherwell painting.
No, they didn't. When they were in power, all they talked about was terrorism and cutting taxes. They never talked about cutting spending. Now that they are out, they don't really talk about terrorism any more.
And my avatar is a picture of Homunculus, a being that lived in a glass jar and tricked the king of a nation into sacrificing the lives of everyone in his country to gain immortality. Of course, the center of the circle that drew out the life force from the country was where he was being held by one of the king's slaves. The king died along with everyone else. I thought it was a nice commentary, but it's lost on most people (ie everyone who never saw Full Metal Alchemist: Brotherhood). For any who are interested, here is the link to the relevant episode: Fullmetal Alchemist: Brotherhood: The Dwarf in ...
"I'd put a bullet in the back of his head if I had half a chance."
You are an asshole and a poser.
"You are an asshole and a poser."
I'm not sure I don't know the man but I do agree with many of his opinions.
Beck was most probably the kid on the playground that got his ass beat every day including his lunch money stolen. Until he was put in protective custody at the request of his mommy.
If this country falls the Becks of this country will be high value targets. Sport for some, cleansing for others.
You know nothing about the Real Glen Beck.
Allow Youtube to educate you:
http://www.youtube.com/watch?v=Eg8M2JBIoqo
http://www.youtube.com/watch?v=ENEfvrAS_K8
http://www.youtube.com/watch?v=1lQW4iuG_rE
He's a betrayer, and he deserves a traitors death. I'll stand by that until the tyrants hang me from a lamp post.
Oh, you're a Ron Paul disciple. Never mind.
No, I'm an anarcho capitalist. Glen Beck claims to be a libertarian, but he viciously turns on any small government advocate who is in a position to get into office. He does this reliably. He is a betrayer.
I watched that first Beck YouTube link. That’s about all I can stomach... I haven’t watched TV for years and certainly not Beck but a few times. These guys do get bribes for what is called “product placement.” When he got on the air with that traitor/jackass O’Reilly a year or two back and they argued which was better- a Value Added Tax or Carbon Tax I thought they were both traitors. O’Reilly is for sure.
According to the reports I’m hearing Beck has been moving in the right direction as of late. Judge Andrew Napolitano (also on Fox) says he has been spending a lot of time on the road et cetera with Beck and that he is coming around. Napolitano is no fool and someone I do tend to trust so hopefully Beck is sincerely coming around. Even Alex Jones who said 18 months ago that Beck was CIA now is keeping his fingers crossed because Beck is apparently walking the walk. The Mo-Fo has an audience of 15 million viewers and we need all the help we can get. It will be interesting to see if Fox fires him. I’ll just hope for the best… you know the rest.
benb,
At last, someone who hasn't "watched TV for years".
Open thread gets solutions. Isn't it interesting?
It’s all interesting.
Don’t watch the Television.
Don’t drink the poisoned municipal water.
Don’t eat the Frankenfoods.
Avoid BPA contaminated containers.
When you don’t you do tend to notice that at least a third of the population have already been turned into vegetables. (Higher proportions if you’re talking about relatives.)
I'll beleive it when he unreservedly endorses Ron Paul for President, and not a second before.
He's going to have to work very hard to earn an end to my hate.
We’ll see. But I don’t think we have much to lose at this point. I can hardly wait to watch how pissed off the tranquilized masses become when their 7 tril in pensions goes up in smoke.
Damn T...dats good shit right there.
"hoping that the Tea Party will turn the country around before it goes over the waterfall.......But it is guaranteed that the second Obama is out and a Republican is in office, his lips will land firmly around the base of his cock, just like Stewart's did.
So shut the fuck up with all the fucking conservative bashing."
The first and only thing that matters right now is fiscal...everything else is a red herring...the socialism (corporate & civilian) must be stopped...DEAD...and rolled back.
Then we can deal from the position of the people who pay the bills first.
And you can bookmark this post...I will be harder on the new leadership than I ever was on these pussy socialists who are in charge now.
Bank on it bruh.
I want the the Dept. of Homeland Security gone. I want the Energy Dept. gone. I want the Education Dept. gone. I want the Dept. of Agriculture gone (they have more parasitic employees than there are farmers for God's sake). I want the SEC to actually enforce security/fiducial law. I want our military bases the hell out of Europe...let them pay for for their own security themselves.
And most of all...I want clawback for all the perks these cocksuckers have in federal government...who have done this over the years. Pensions for life?...free healthcare?...for running the country into the ground...and they skate?...I don't fucking think so.
For starters T...my rant.
Now I'm going to watch some college football before they completely fuck that up too.
SeeYa
++++
Are you listening to the same Glenn Beck I am? He has has been excoriating both parties equally for a very long time. Go back and listen to his shows during the last 3-4 years of the Bush presidency and read his new book, I think you might change your mind.
Listening to tools like beck is your first mistake.Just boycott the TPTB channel.
I am TV/Radio free for 5 years now.I escaped the matrix....you can too.
FREE YOUR MIND!
Or discuss the latest sitcom/reality show/TPTB control matrix news of the day at the water cooler with the rest of the slaves.
Even if you are trapped in every other way, free your mind!And teach others how to get off the crack known as entertainment today, it is what America needs now more than ever...not zombies, but freedom imbued human beings.
Think about it.
Disagree. Keep your friends close, and your enemies closer.
That little box has aa tendenciy to frame all debate. Small doses of its EM, and Mental radiation are good to hone your skills in challenging the prevailing wisdom.
Everything in moderation...even ZH
+100...Even the kids don't miss TeeVee after 2 years with no cable/sat/overtheair (surprised the hell out of me...:)...if they don't stream it, we don't watch it, and even then, extreme prejudice....
I think it is safe to say.....based upon the antics of Palin and other Conservatives.....that the Republicans will have "hijacked" the Tea Party successfully in this election and thus failing to eliminate the Enemy of every freedom loving American.....The Federal Reserve.
The increasing polarity of America will grow ever larger as a result.....
I agree with Turd. I seem to remember Glenn Beck criticizing the republicans and taking heat for it. I remember him railing against Bush spending more money and creating a new medicare entitlement. How about being against McCain and Graham on amnesty. How about when he went against McCain on campaign finance. Glenn is many things, but he is no partisan.
But to know that one would actually have to watch his show, and then the realization that repeating the left's talking points only serves to make one look like an ass sinks in with a very cumbersome weight. If the masses want a target on television it should be Olbermann or Hannity(preferably both).
Agreed, I can live with that.
If the masses want a target on television it should be Olbermann or Hannity(preferably both).
+1
Hannity is an uneducated penis.
Olbermann is an overeducated penis.
Both talking "heads" do nothing but "enlarge" their egos by running their mouths. It's all a fucking game to them; they want a bigger chunk of the ratings so that either GE or News Corporation will see their stock increase by 8-10%....
Spew spew spew....yup, that's all they do. And folks buy that shit anyway.
(Sigh)
Charlie Bravo
Can we top it off with a Bill "A Current Affair" O'Really?
Sorry, Red Neck Repugnicant, but what apparently seemed like a great approach to making your point has, if not proven incorrect, certainly played itself out. Give it up and try a new tact.
"Lastly, I'm not a democrat - never have been, never will be. I was a Republican until the hypocrisy of the party became too thick to ignore. That was a gradual process that accelerated under the Bush abomination."
I sympathize with you. I too came to absolutely detest all NeoCon BS because of Bush and all his Zionist cronies. There are alternatives other than Libertarianism though. Consider Paleoconservatism and discover they are anti-war, pro states rights, and all for a "southern agrarian" style, distributist economy.
n/a
I quite agree...Turd.
Root for the red, root for the blue. Siss-boom-bah. Keep your eye on the ball as the referees spot the ball where they please.
Go ahead a play the Supebowl of life. The game is rigged and I ain't playing no mo....
Fans are leavin' the stadium before the fourth quarter is up.
Don't con me with how good your team is over the other.
Cuz they like Guns and Strippers sezs my Pa.
Economists: They know nothing about God, but by the time this is finished, they will.
Damn, 37 junks already. Tough crowd.....
RNP- I normally abhor the thinking behind your posts, but in this case, I gotta admire a they way you got discussion spun up in a hurry.
Midlothian? As in Texas?
If you're from Texas, then I can understand that you abhor the thinking behind my posts.
And that's strangely coincidental because I, too, abhor the thinking behind my posts.
Additionally, if you look at all the junks that I get, you can understand why I don't think the readers of this site are politically agnostic, or fed up with both parties. Perhaps some are, but there is an overwhelming number of conservative, religious, hypocritical, narrow-minded, Glenn Beck-style Repugnicants that slither through these pages - and that's precisely why my posts will continue.
Whatever, moron. Come back when the Republicans are in total control and tell me then. They will be calling for more wars, and I'll be calling them a bunch of cunts, just like I was when Bush was in office.
What I find interesting is that an open thread almost immediately devolves into US centric political banality...it was fun at the top of the thread...not so much now...
They done got us good and divided, it appears, imho.
Looking left or right, either leads to the same place...the drowning sea.
I wish we all could stop allowing ourselves to be put in pre-fab boxes.
Try again tomorrow, I will.
Something to read:
http://tinyurl.com/24j5r75
Highest bullish sentiment since May 2008 according to AAII. If we didn't have QE2 staring us in the face this would be an easy spot to get in short.
http://www.marketwatch.com/story/investor-sentiment-reaches-two-year-high-aaii-2010-10-28?dist=afterbell
Counter-point
"With bullish sentiment at its highest level since May 8, 2008 and bearish sentiment at its lowest level since January 12, 2006, the question becomes whether either reading is excessive. The answer is no. Bullish sentiment is just slightly above one standard deviation from the historical average and bearish sentiment is within one standard deviation."
http://blogs.forbes.com/investor/2010/10/28/why-is-bullish-sentiment-near-two-and-a-half-year-high/
This is from page 129-130 of the book I linked to, "The Behavior of Crowds" by Everett Dean Martin in 1920:
"A crowd is like an unsound banking institution. People are induced to carry their deposits of faith in it, and so long as there is no unusual withdrawing of accounts the insolvent condition may be covered up. Many uneasy depositors would like to get their money out if they could do so secretly, or without incurring the displeasure of the others. Meanwhile all insist that the bank is perfectly safe and each does all he can to compel others to stay in. The thing they all most fear is that some one will "start a run on the bank," force it to liquidate, and everyone will lose. So the crowd functions in its way just so long as its members may be cajoled into an appearance of continued confidence in its ideals and values. The spiritual capital of each depends on the confidence of others. As a consequence they all spend most of their time exhorting one another to be good crowd-men, fearing and hating no one so much as the person who dares raise the question whether the crowd could really meet its obligations."
+100
AAII data is pretty incredible when you look at the past.
For example, lowest percent bears ever?
6.0% Aug 1987. Right before the crash.
6.7% Sept 2000. Beginning of S&P bear market in 2000.
It is not foolproof though. However, recently when we've seen 20% bullish it has marked trade-able bottoms.
1/10/08 19.63% Bullish (false signal)
3/13/08 20.42% Bullish
7/10/08 22.17% Bullish
3/5/09 18.92% Bullish
7/8/10 20.94% Bullish
8/26/10 20.74% Bullish
Bull-Bear spread is equal to where we topped in Oct 2007 but nowhere near all-time high.
Recently, bullish reads near 50% have been decent top signals.
Oct 2007 54.64% Bullish
May 2008 53.29% Bullish
Jan 2009 48.70% Bullish
Aug 2009 51.00% Bullish (false signal)
Apr 2010 48.48% Bullish
Sept 2010 50.89% Bullish (false signal so far)
Today 51.23% Bullish
Perhaps, just as important is the fact that sentiment was not at an extreme when the crash occurred in Oct 2008.
i recommend the 8week rolling avg/ 52week rolling avg of the bull bear spread....
also go here for better data:
http://www.naaim.org/naaimadsenttrend.aspx
On the lam?
“There is no bubble in gold,” Cramer declared on Wednesday. “It is a genuine multiyear rally.”
http://www.cnbc.com/id/39875133
(crickets)
With negative tips as well means someone is either expecting deflation or banks going down beyond the FDIC limits to pay out -- and someone is putting their money behind it. Contrarian in me say's be nimble as the amount of USD's as debt far outnumbers the USD's in existence. When the black hole opens and swallows them up there "could be" a serious bit of whiplash across many asset classes . . .
@ Erik -
Junked you for being a Fusky fan. Get a real team.
Also wanted to junk you for mentioning "he who does not deserve to be mentioned".
Also thought about junking you again for not capitalising your name, a proper noun...but didn't cause I realized I hadn't do so w/ my name.
Thanks for being there for me and letting me vent my rage...probably saved some innocent lives on my drive home on I-5 tonight.
hammy, i think you meant to type the "h" letter instead of the "f" letter :) i mentioned cramer because i think when he pumps something is should be a caution. i know there are lots of gold lovers here so i figured they would want to know. glad to be of service to you.
Cramer said it. It's gotta be true!
Be fair to Cramer, he did say to get out of the market when it was about 10200 and said to get back in when it was down to 6500 or so with his thesis being the lowest it could go would be 5800. He hasn't been in gold since it was about 800 so on gold he has no credibility. I'm just saying he's not all wrong. He has been cramming Apple down peoples throat and calling for plus 300 when it was at about 175 and people laughed. Again he hated silver and SLW for a long time so when it comes to metals he has zero credibility but to just trash him on everything would be wrong.
Please Google "Jim Cramer Effect" and reconsider your post. But there is another way to profit from his picks:
"Taken together, our results suggest that the aggregate losers in our event study are the Mad Money viewers who decide to buy the recommended securities when the markets open the following day, and that the winners are the market makers and arbitraguers [sic] who sell the overpriced recommended stocks on day 1, as well as the traders who sell the recommended stocks on days 2 through 12."
http://seekingalpha.com/article/11461-can-you-make-money-from-jim-cramer-s-picks
Can I do a headcount on who is long on banks over here?
If you're not, you don't need to respond.
Do pension funds count?
-BBB rated?
I am long banks in 2 regards.
I am long vengeance.
I am long, long Justice.
I'm long both of yours as well and I'll raise you the political corruption that makes it all possible.
We can start at FNM & FRE or GM or SEIU or NYFRB or K street...it makes no difference.
I can get about 700 yards long on a bank with my trusty Lee-Enfield.
Tyler has (been) moved to an undisclosed location.
Please remember to remove the battery from the cell phone so the smart bombs have a little more difficulty targeting you.
http://www.rand.org/pubs/monograph_reports/MR1332/MR1332.ch2.pdf
This market is a fugging joke! We had breakdown then a complete reversal over the past 15 mins. Where's the assmonkey SEC???
I think we should get used to this. When HFT technology spreads around the globe, you will likely see more of this. I hate HFT, but I don't think the genie can be put back inside the bottle. Dow 36K, gold $5000.
1:1 Dow/Gold restoration...
Here is a really important development: my ass hurts.
I ride my bicycle to work every day, 60 miles a day r/t and 300 miles a week, and by the end of the week my ass hurts.
It's not even Friday. But my ass already is sore. I got another day of this. I want all you useless fuckers to know, my butt hurtz.
Seat padding, bitchez.
There might just be another reason for the sore anal canal. :>)
Ouch!
I knew -- I knew -- and would have bet good money on it that you would say that.
You know, I sometimes just say stuff like that so you can have a field day with it.
Actually I have the world's most awesome bicycle. I love riding it. Bitch is 11 feet long and flat black, chopper forks, dual 36V LiFePo batteries, 50 mile range, rides like a Cadillac. The elite stealth bomber of bikes. But the seat is the worst. I need to engineer something for my frail old ass. Otherwise how am I going to enjoy the anal probing once the aliens invade?
Priorities, bitchez!
Little old me?
Well. I was capping on CD. But yes you too.
Probably the same person using different accounts anyway.
I'm on to you CDukles! Your nefarious days of hiding behind all you alias are over! You and Bin Laden will be hunted down and served your just desserts!
Real love is knowing when to hug your partner. A real partnership is knowing when to feed your partner the ball. :>)
After a certain point I am, and always will be, very predictable. My own mother complains about me when I take her out every two weeks for Sunday dinner. I have certain meals I order at certain restaurants. I reply as I always do when she complains. Once I'm done experimenting, the only reason I return to the resturant is to get what I want for the money I am spending.
Take me to a new restaurant and I'm suddenly game for anything on the menu. Once I find what I really like, I stay with it and simply find another restaurant when I want something different. My mother loves me despite this obvious flaw.
Dude that is like so fucking twisted. Get some help man.
J/K. I'm like that too. It's because I don't want to think about food. I like to eat food and think about something else. Like I'd waste brain power deciding now what I want to dump tomorrow morning. It all comes out looking the same, right? Food gets me down the road in the meantime, so what the heck. Order something I know won't make me puke or give me gas and get on with it already.
Wait. We're back to talking anal. How did you do that?
A real partnership is knowing when to feed your partner the ball. :>)
I keep telling my wife that. She ain't buying it at all. And she used to be so willing ...
maybe if he would put a saddle on his bike, his ass problems would be solved?
You. Are no longer my friend. You are dead to me.
Groveling isn't going to work, either.
Buddy?....
Okay fine. I'm over it. Besides how can I stay mad at a ... um ... plushie raging meatloaf ... thing.
You're a push-over.
Get a motor, in your bicycle.
36V all day, brutha. Might add another rotor just to double the awesome-ness, two-wheel-drive-to-yo-moms-house.
+1 from another bicycle commuter -- 25 miles R/T/day. In WI. Year-round (except for rain, snowstorms, or temps < 15 degrees F).
Many of the ZH'ers here talk about F--ing the banks, well, I'm on a one person crusade to F--- the oil companies. Side benefit: I'm in very good shape. I do this because I like to, not because I have to. I still have a garage and barn full of dino-juice toys.
Moral of the story: there are plenty of creative ways to get your own revenge on this broken system. Do what you can, and do it with unrestrained enthusiasm.
That was beautiful. u rock. Enjoy the miles. It's still a beautiful world, I don't care where you are.
That's nothing.
Think how depressed you'll be when the excessive biking leads to impotence.
http://sportsmedicine.about.com/od/cyclingworkouts/a/BikingImpotence.htm
I'm not convinced: http://www.littleredbook.cn/wp-content/uploads/2009/05/chinese-people-ri...
Rogoff:
"Pimco's Ponizi rhetoric is colorful but that fiscal policy is not really the issue. Ben Bernanke needs to take command and not let prices fall as it would not help the overleveraged consumer"
Ken exactly what world do you live in?
Got the Link? I actually liked his book, surprised this came from him. But not out of the realm of possibility, he is an Economist after all.
thank you Zero hedge. i started reading this blog about a month ago, and my eyes are now "wide open".
Just to follow up on another thread here, currently there is a plan that originated in France that is beginning to spread in Europe calling for people to pull their money out of the banks on a single day, that day being December 7th. I would suggest that we start spreading the word stateside to see how many folks we can get to do this here. This is literally the most effective message we as individuals can send, because it's actually going to cause them some pain. Pain is the only way to wake them up. And just how additionally instructive will it be when we're told that we actually can't take all of it out, and thousands of people realize they're hard-earned deposits earning hilariously bad yields really only theoretically (fantastically?) exist.
You know all they have are fiats. What good would those do me! But, ok, I'll do it just for fun. Would someone please make a web site so it can go viral?
Note that December 7th was the day that the Japanese bombed Pearl Harbor, which, of course, our captured Federal Government was well aware was going to happen, and created the impetus for a war which claimed the life of my grandfather, all in the interest of boosting industrial activity both home and abroad (financed, of course, by bank issued debt, with a nice bond servicing income stream to boot!). They deserve a pretty serious response for this atrocity.
Yes. A run on the banks is exactly what they deserve. Is it possible to do a run on the PDs? They deserve it also.
These antics are just silly. If you want to do something to the banks, this is much better and has a lasting effect:
Pay all bank debts and government taxes in currency.
Change all other currency into pm's or other instruments not denominated in your currency
Trade with as many people as possible in pm's
Barter as much as you can
The more people that reject fiat currencies and move to sound money, the less power the banks will have.
Why not do both?
Silver and Gold Eagles are a fun form of commerce, being "legal tender" and all. Especially where sales/property taxes are concerned.
Nothing like buying a nice vehicle from a neighbor for a few hundred dollars, then watching the tax collectors at the DMV express their surprise/disbelief that I didn't spend several thousand.
+1
Don't know about where you live but here they don't give a rats ass what amount is on the bill of sale. They have a valuation book. Just sayin...
Gotta think through who the audience is here. The vast majority of people aren't going to get on board with paying off debt or going on a PM/barter standard. Taking money out of the bank, that's something that's going to make sense to them.
One kinda fun, probably unintentional thing about Dave Ramsey's plan is the part where you pay everything with cash. Realize that if most Americans actually did this, the banks would be fucked.
ZHers still got money in banks? Perish the thought.
http://www.bloomberg.com/news/2010-10-28/wells-fargo-to-be-focus-of-ohio-foreclosure-investigation.html
Another positive pomo close.
Nope ...
S&P up .10%. Got a big bang for our pomo buck. Purchasing power down 1.09%. Good deal.
I don't care where the index came out, that was anything but a positive close.
Ugly close.
*wonders how many hours "several several" are*
At least 9 I guess?
Well, it all depends upon whether the calculation is recursive or squared.
I for one am happy. It's impossible for me to keep up. Now I can backtrack and catch up on a few older article that I missed.
Must. Close. Green. On. POMO. Day.
Chart: ES and ZB
http://99ercharts.blogspot.com/2010/10/es-zb_3074.html
http://www.zerohedge.com/forum/99er-charts
Emerging markets stocks are obviously breaking out of their uptrends right now which looks like we are just about to peak. Istanbul and Russia are leading the correction. Foreign CBs are tightening so no matter what happens here we will see some sort of correction. Riksbank raised by 1/4, and while CB in Poland didn't change rates but increased the reserve ratio by half percent. I have an impression foreign CBs are fed up with the easy money policy and inflation.
What up
Whats up .... Whats your thoughts on next week and how the market might play out ...
Absolutely no idea, and even less care about markets. Day-by-day or week-by-week or "prognosticating" about future developments is amateurish. I am watching Gold and $ + some FI stuff related to mortgage put-backs. Equities are not really my thing; I dont even follow indices. At all. But $ will probably trade down in light of increasing probability of QE, core currency pairs will be volatile due to that, gold should have a modest rise. I cant go beyond that. Oh, also REMs will be down.
Hey Cheeky,
Good to see you back. Any contributions in the future?
Thank you man. I have no idea. Most likely yes than no, but when, I dont know that myself.
Dude, you have become a legend in your own time! That can't be all good.
Time to fully rejoin the show, imo, things are heating up 'round here.
Also glad to see you back Cheeky. Why do you say REMs will be down?
http://www.nytimes.com/2010/10/29/business/energy-environment/29rare.html?src=mv
Yep, that'll do it. Looks like AVARF and MCP are down on the news, but long term prospects still seem pretty good. From the article:
"Even with customs officials allowing containers of rare earths to leave China’s docks, foreign buyers face a separate, serious problem. China has repeatedly reduced its export quotas for rare earths over the last five years so that they are now well below world demand."
No, sure. I agree. I would short the miners here and the, newly issued, ETF as well and maybe enter after a 15%-25% retracement [average for the sectoral components]. China will surely further reduce the quotas and set up new export bans in the future. REMs are historically very volatile and Chinas newly formed strategy regarding that sector will contribute to increased volatility in the future. Best "strategy" I can "recommend" is using options. If you are not risk averse, preferably far OTM ones [taking into account historical volatility of the sector and its components"].